Stellantis (NASDAQ:STLA) Rating Lowered to Neutral at Bank of America

Stellantis (NASDAQ:STLAGet Rating) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Briefing.com reports.

Several other research firms have also commented on STLA. Zacks Investment Research lowered shares of Stellantis from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of Stellantis from €27.00 ($29.03) to €21.00 ($22.58) and set an “overweight” rating for the company in a research note on Thursday, February 24th. Societe Generale increased their target price on shares of Stellantis from €23.00 ($24.73) to €28.00 ($30.11) and gave the company a “buy” rating in a research report on Friday, February 25th. Finally, Royal Bank of Canada started coverage on shares of Stellantis in a research report on Wednesday, January 5th. They set a “sector perform” rating for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Stellantis currently has an average rating of “Buy” and an average target price of $23.00.

NASDAQ:STLA opened at $14.00 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.40. Stellantis has a 52 week low of $13.65 and a 52 week high of $21.99. The firm has a 50-day moving average price of $16.12 and a two-hundred day moving average price of $18.33.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank N A MO bought a new position in Stellantis in the 4th quarter worth approximately $33,000. CWM LLC raised its position in shares of Stellantis by 129.8% during the 1st quarter. CWM LLC now owns 2,859 shares of the company’s stock valued at $47,000 after buying an additional 1,615 shares in the last quarter. Allworth Financial LP raised its position in shares of Stellantis by 3,112.0% during the 4th quarter. Allworth Financial LP now owns 3,212 shares of the company’s stock valued at $60,000 after buying an additional 3,112 shares in the last quarter. Addison Advisors LLC purchased a new position in Stellantis in the fourth quarter worth about $104,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Stellantis in the fourth quarter worth about $179,000. 52.71% of the stock is owned by institutional investors.

Stellantis Company Profile (Get Rating)

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, and production systems worldwide. It provides luxury, premium, and mainstream passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

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Analyst Recommendations for Stellantis (NASDAQ:STLA)

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